'The Second Gilded Age Is Upon Us' (theguardian.com)

Robotron23 writes: Wealth inequality is at its highest since the turn of the 20th century -- the so-called 'Gilded Age' -- as the proportion of capital held by the world's 1,542 dollar billionaires swells further. The report, commissioned by the Swiss banking giant UBS and UK accounting company PwC, discusses the impacts of technology and globalization on the situation, and arrives weeks after the IMF recommended that the world's richest pay higher taxes to ease the disparity of wealth.

Comments

Re:Guillotine time.

[Kjella]

The uber-rich really are selfish and shortsighted. Selfish I understand, but the shortsightedness is ridiculous. No matter how nice the masses have it (and at least where I live, you have to be pretty poor before you're not 'rich' in a global or historical context), when a relatively small number of people have so much wealth they can buy and sell the rest of us without a care in the world... the masses will eventually revolt.

Sorry, but I don't think history supports that claim. The peasants didn't revolt because their lords and kings were rich and powerful, almost every revolt came when there was a crisis that drove the lowest in society to desperation. The French revolution? Oppression + food shortage. The Russian revolution? Tired of war + food shortage. Even the fall of the Soviet Union was mostly because the stores were empty and the rubles almost worthless. That Roman that coined the term "bread and circus" was mostly spot on, as long as you got food stamps and TV most people are placated.

Take a look at all the people who quite willingly vote for a "strong leader" because they don't really care about freedom or civil rights, they want a strong economy and order. As long as they can make some money (bread) and spend that money (circus) without too much interference they're happy to be a cog in the machinery. Take a look at China, I know everybody here wants to remind about Tiananmen Square but it's 25+ years ago and in a booming economy the masses just aren't remotely unhappy enough to support a revolution. Venezuela, maybe. But it's increasingly rare.